Dimensional Fund Advisors
Template:Short description Script error: No such module "Infobox".Template:Template otherScript error: No such module "Check for conflicting parameters".Script error: No such module "Check for unknown parameters". Dimensional Fund Advisors, L.P. (branded Dimensional abbreviated DFA[1]) is a privately-owned investment firm headquartered in Austin, Texas. Dimensional was founded in Brooklyn[2] in 1981 by David Booth, Rex Sinquefield and Larry Klotz. The company has 15 international offices in the U.S., Canada, U.K., Germany, Netherlands, Australia, Singapore, and Japan.[3] Dimensional maintains additional U.S. offices in Charlotte, North Carolina and Santa Monica, California.
The company's founders studied at the University of Chicago under Eugene Fama. Kenneth French is co-chair of the firm's investment research committee.[4] DFA's investment strategy is based on application of the efficient market hypothesis.[5] Dimensional was one of the earliest firms to offer passive investing and "runs the oldest small-cap index fund" in the United States.[6] However, the firm's versions of index funds have the flexibility to trade daily[7] and skew towards smaller company stocks and value stocks; They operate differently from most index funds which rebalance on specific dates and are weighted by market capitalization.[8] This strategy results in regulators, such as the SEC,[9] and some analysts[10][11][12] describing the funds as actively managed. The company offers equity and fixed income mutual funds, Exchange-traded funds, separately managed accounts, and model portfolios.
In 2009, Dimensional acquired SmartNest, a retirement planning computer software company.[13] Researcher Robert C. Merton left SmartNest's board after the purchase and became a Resident Scientist at Dimensional.[14][15][16]
In November 2020, the firm announced it was augmenting its strictly advisor-access[17] and institutional[18] only mutual fund business model by offering openly-accessed exchange-traded funds.[19][20][21][22]
Board of Directors
Board of Directors of the general partner of Dimensional Fund Advisors LP:[23]
- David Booth
- Eugene Fama
- Kenneth French
- John "Mac" McQuown
- Gerard K. O'Reilly
- Dave Butler
Board of Directors, Dimensional Mutual Funds and ETFs, US:[24]
- Reena Aggarwal, Georgetown University
- Dave Butler, Co-CEO
- Douglas W. Diamond, University of Chicago
- Darrell Duffie, Stanford University Graduate School of Business
- Francis A. Longstaff, UCLA
- Gerard K. O'Reilly, Co-CEO & Co-CIO
- Abbie J. Smith, University of Chicago
- Heather E. Tookes, Yale School of Management
- Ingrid M. Werner, The Ohio State University
References
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- ↑ William J. Bernstein (2002). The Four Pillars of Investing: Lessons for Building a Winning Portfolio. McGraw-Hill, Template:ISBN, p. 103
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- ↑ John Rekenthaler (Nov 25, 2020) DFA Is Paying the Price for Its Conviction. Morningstar.com, accessed 19 March 2021
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